Differences in audit quality between audit firms: The impact of audit-firm portfolio characteristics.

Companies generate financial statements that are used for decision making by various stakeholders and the quality of those financial statements depends on the quality of the external auditor. There exists empirical evidence of quality differentiation between audit firms, but the audit-quality proxy that is typically used, auditor size (big 6 / non-big 6 firm), is very rough. The major purpose and contribution of this paper is to further investigate audit-quality determinants empirically. To that end we test the impact on financial statement and audit quality of audit-firm portfolio characteristics, that we selected based on a well-perceived theory by DeAngelo (1981). We indeed find that audit-firm portfolio characteristics better explain variations in financial statement and audit quality. In particular: 1) the short-term leverage of an audit firm's portfolio is negatively, and 2) the number of clients in an audit firm's portfolio is positively associated with financial statement and audit quality.Image; Characteristics; Companies; Decision making; Theory;

IMPORTANCE OF FINANCIAL AUDIT IN LOWERING INFORMATIONAL RISK

The financial audit enables the credibility of the financial statements to be improved, from both accountants and financial information users’ standpoints. This audit is required to provide information quality control. The article is intended to submit the causes involved in the occurrence of the informational risk as well as in the ways to lower risks.: financial audit, financial information, informational risk, credibility.

FINANCIAL AUDIT MANAGEMENT

Financial audit expresses, as its main aim, an opinion on the extent to which the financial statements present a true and fair view of the entity’s economic affairs at the balance sheet date and the results for the year ended, in compliance with the laws in force and practices in the country where the entity is established. To achieve this objective, the audit process requires an examination management and methodology to ensure an independent opinion, so as to equally protect all the users of the accounting information: shareholders / partners, state, employees, banks, debtors, customers, suppliers etc.management, audit mission, financial audit, audit strategy

Informatics systems for financial audit and revision

The activity of the financial auditors is regulated by International Standards of Revision for financial situations and information, through which the fundamental procedures and principles for this kind of missions are established. CIEL Audit and Revision application has been conceived as a support for financial auditors and expert accountants in Romania, offering help in the domain of informatics for the audit and accounting revision activities, since it is adapted both to the legal requirements and to the needs of professionals, covering the whole range of financial audit.informatics systems, financial audit, revision

INFORMATICS SYSTEMS FOR FINANCIAL AUDIT AND REVISION

The activity of the financial auditors is regulated by International Standards of Revision for financial situations and information, through which the fundamental procedures and principles for this kind of missions are established. CIEL Audit and Revisiinformatics systems, financial audit, revision

ENVIRONMENTAL AUDIT, A POSSIBLE SOURCE OF INFORMATION FOR FINANCIAL AUDITORS

The purpose of this article is to present certain aspects regarding environmental auditand how it is perceived by the accounting profession, especially by financial auditors. The mainobjectives taken into account when writing the article was to define the concept of environmental audit,to present how financial auditors get involved within environmental audit, both internationally and inRomania. The scientific approach is based on information from national literature, European andinternational practice regarding environmental audit and the implication of accounting professionalsin this activity. The results of the research conducted in this paper have shown that the accountingprofession at international level, such as the case of New Zeeland, as well as at national level, is onlyslightly involved in environmental audit due to the fact that this type of audit is an activity that is notmandatory, being used for the entity’s own use as opposed to financial audit, which is mandatory andis stipulated by accounting regulations in force and is standardized.environmental audit, financial audit, environmental aspects, accounting profession

The audit risk associated to the depreciation adjustments of the tangible assets during the financial instability period

The research object of this article is the connection between the presentations of the tangible fixed assets at the fair value, according to the international standards for the presentation of the financial statements, especially during the crises periods, and the audit risks taken by the financial auditors and by the users of the audited financial statements. The results of the research are a few suggestions related to the change of the assessment method for audit risks, as well as the elaboration of certain reduction measures of these audit risks.tangible fixed assets, fair value, audit risk, measuring the audit risk

The Effect of Company Size, Solvency and Audit Committee on Delay Audit

Delay in financial reporting, a company complaint. Because the investor no longer believes. Therefore, audit delay needs to be addressed. This study aims to analyze and describe audit delay factors. The research method used is quantitative with secondary data. The populations in this study were all manufacturing companies listed on the Indonesia Stock Exchange. The sample technique used is purposive with the criteria specified are companies those publish audited financial statements for four consecutive years and use the rupiah currency, so the total number of samples in this study is 100 data. Independent variables in this study are company size, solvability and audit committee, variables dependent in this study is audit delay. The data analysis technique used is multiple linear regressions. The results of the analysis show that the solvability variable has a significant effect on audit delay. While the variable size of the company and the audit committee does not have a significant effect on audit dela

Determination of audit activity in modern conditions

The task of compulsory audit of financial statements is the provision of reasonable assurance that is accepted and performed by the entity in accordance with the requirements of this Law and international standards of audit by checking the financial statements or consolidated financial statements in order to express an independent opinion of the auditor on its compliance with all significant aspects and compliance with the requirements of international financial reporting standards or national accounting (statutory) standards and laws of Ukraine

Philanthropy under the Microscope: A Cost-Benefit Analysis of Small Nonprofits Conducting Financial Statement Audits

External audits are conducted by Certified Public Accountants (CPAs) and ensure the reliability of financial reporting and internal controls of a given organization. Publicly traded corporations are required by the Securities and Exchange Commission (SEC) to conduct a yearly external audit. In addition, some large or government funded not-for-profits must produce audited financial statements upon request. If an organization is not required to conduct an audit, it may still choose to undergo an independent audit. Among those that may voluntarily conduct an audit are small nonprofit organizations. Due to the unique characteristics of small nonprofits, some elements of an external audit may not be feasible; however, there are still advantages provided by this independent evaluation. The decision to conduct or not conduct a voluntary external audit requires the analysis of the engagement’s costs and benefits. The intent of this paper is to present a cost-benefit analysis related to the observable costs, expenses and advantages of conducting an audit within a nonprofit organization